‘AS TREASURER, I’LL PROPAGATE REAL ESTATE INVESTMENTS’ SAYS FUNMI ADEOGUN
Real estate has consistently outperformed other asset classes over the last five years. With returns of about 25% p.a, against an average of 14.2% p.a. in all asset classes.
VOTE ADEOGUN FUNMILOLA OLUWATOSIN FOR TREASURER, A LAWYER WITH AN ACCOUNTING BACKGROUND
# REDEFINING THE FINANCIAL PRUDENCE OF THE BAR
CHALLENGES AND REMEDIES
Section 5(g)( i- xiii) Constitution of the Nigerian Bar Association 2015( as amended in 2021) spells out the duties and from those duties, I won’t be wrong to say that the Treasurer has the highest duties to perform and therefore must have the capability and capacity to discharge the onerous task.
1- ( Sec 5g- vi) we hardly see a report of Treasurer where it states what the Association has invested its money on in consistent with applicable laws.
Investment is my priority, this will be done by presenting some investment schemes to the President and the other NATIONAL officers for deliberations and decision making.
If you take time to read my Lectures on FINANCIAL INVESTMENT TITLED * THE THREE SERVANTS* which comes out in series everyday, you would know that the best thing you can do as a servant of the master is to increase the wealth committed into your hands.
2- Another challenge is that duty in Section 5g- v
Compilation and circulation of a list of members who have paid or are in default in respect of their Practicing Fees and take steps to circulate such list at the Annual General Meeting, the NEC, various Heads of Courts in the country, CAC and such statutory bodies…
It is only when you know the intention of the drafters of the Constitution that you would be able to know what this particular provision intends to achieve. However, I could deduce two purposes:
i. To generate more revenue for the Association because those that their names appeared in default list would most likely do the needful
ii. To disallow those that didn’t pay an audience at the various places mentioned for it to be circulated.
I could hear someone say * stamp and seal* has achieved that…
You are right to some extent it has increased the number of lawyers paying their Practicing Fees just but it has not REDUCED QUARKS MASQUERADING AS ADVOCATES…because we have fake stamp and seal all over…which is another challenge the Bar is facing.
* I would prefer a situation where such publication would be done on Website where the General Public will have access to information on list of lawyers who are dormant or inactive (not Certified to practice), suspended or struck off the Roll of Advocates and those who are active and Certified to practice EVERY YEAR.
My experience in KENYA and ETHIOPIA made me understand that publication in public domain informs the General Public on lawyers to deal with YEAR IN YEAR OUT, increase the revenue of the Law Societies and also help guard against the public falling into the hands ✋ of FAKE * LEARNED FRIENDS * IN corridors of Justice.
3- Section 5g-iv shall be in constant touch with the Branches to ensure that all members of the Branches pay their annual pf as and when due.
We are now in technology age where things are done seamlessly. A whatsapp group can be created for that purpose to achieve this duty that has so long been neglected, probably because they think, if you don’t pay, you loose the benefits but if done would create a kind of bonding and sense of belonging.
At this juncture, I must commend this administration for proper accounting of the Association’s funds which in my opinion the next administration could do better.
FUNMI ADEOGUN, FIMC, FIMS( UK), MCIArb(UK), CMC, CMS
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